#EURUSD approaching pivot, potential for a drop!
Price is reacting below our pivot level at 1.18457 which is in line with 50.0% Fibonacci retracement levelhorizontal swing high resistance. Price can potentially take support at 1.17271, which is in line with -27.2% Fibonacci retracement level, 76.4% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.18803, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.18457
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
1.17271
Why we like it:
-27.2% Fibonacci retracement level, 76.4% Fibonacci retracement level
1st Resistance:
1.18803
Why we like it:
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
1.18457
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
1.17271
Why we like it:
-27.2% Fibonacci retracement level, 76.4% Fibonacci retracement level
1st Resistance:
1.18803
Why we like it:
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
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